Ipca Laboratories plans to sell its entire shareholding in its US-based step-down subsidiary, Bayshore Pharmaceuticals LLC, to Centaur Pharmaceuticals USA Inc. for $400,000. Bayshore, which previously engaged in pharmaceutical marketing and distribution, ceased operations in September 2024 after selling its business to Unichem. The sale aims to eliminate compliance costs associated with maintaining a non-operational entity.
Subsidiary Stake Divestment
Ipca Laboratories has announced its decision to sell 100% shareholding in Bayshore Pharmaceuticals LLC, its wholly-owned step-down subsidiary in the USA. The buyer is Centaur Pharmaceuticals USA Inc.
Transaction Details
The agreed consideration for the sale is $400,000 (USD four lacs only). The agreement for sale is expected to be finalized around January 20, 2026, following due diligence by the purchaser. The transaction is expected to be completed within 30 days of signing the agreement.
Background on Bayshore
Bayshore Pharmaceuticals previously marketed and distributed generic formulations in the US. In September 2024, Bayshore sold its business operations to Unichem Pharmaceuticals (USA) Inc. and its product approvals to Unichem Laboratories Ltd. Currently, Bayshore is not conducting any business, holding only share capital and a small bank balance of approximately $5,200.
Strategic Rationale
The primary reason for the sale is to eliminate ongoing compliance costs associated with maintaining a non-operational subsidiary.
Office Address Update
Ipca Laboratories also plans to update its registered office address to include the district detail on the Ministry of Corporate Affairs (MCA) website, but notes that this will not involve any physical change of address. The Board meeting regarding this announcement commenced at 10:15 am and concluded at 10:35 am.
Source: BSE
